Latin America Composite Strengthening Systems Market Size & Outlook
Latin America composite strengthening systems market, 2018-2030 (US$M)
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Latin America composite strengthening systems market highlights
- The Latin America composite strengthening systems market generated a revenue of USD 6.5 million in 2023.
- The market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- In terms of segment, fiber-reinforced polymer (frp) was the largest revenue generating product in 2023.
- Fiber-Reinforced Polymer (FRP) is the most lucrative product segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 6.5 million |
| Market revenue in 2030 | USD 10.3 million |
| Growth rate | 6.8% (CAGR from 2023 to 2030) |
| Largest segment | Fiber-reinforced polymer (frp) |
| Fastest growing segment | Fiber-Reinforced Polymer (FRP) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fiber-Reinforced Polymer (FRP), Fabric-Reinforced Cementitious Matrix (FRCM) |
| Key market players worldwide | Simpson Strong-Tie Company |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.0% of the global composite strengthening systems market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 114.0 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 73.85% in 2023. Horizon Databook has segmented the Latin America composite strengthening systems market based on fiber-reinforced polymer (frp), fabric-reinforced cementitious matrix (frcm) covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America’s product demand is likely to be influenced by the level of infrastructure development and construction activities in the region.
Government investments in tunnels, bridges, and residential and commercial buildings can drive the need for composite strengthening systems.
For instance, in 2023 the plans for development of new underwater tunnel for Brazil’s port of Santos. In Sao Paulo State is expected to cost over USD 990.
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Composite Strengthening Systems Market Scope
Composite Strengthening Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America composite strengthening systems market
Latin America Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
Latin America composite strengthening systems market
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